Miller Homes, the City of Edinburgh Council and Scottish Futures' Trust have joined together as part of the National Housing Trust's initiative aimed at fast-tracking the delivery of affordable, mid-market rental homes throughout Scotland.
Edinburgh in particular suffers a shortage of affordable housing and is one of the target areas for the project.
In addition, the initiative aims to enable councils and developers to collaborate on sites that would otherwise have taken longer to get underway, and to safeguard jobs in the housebuilding industry.
Miller Homes is set to commence work on 89 new one, two and three bedroom apartments at its Varcity North development before the end of the year.
Once completed, the homes will be let to employed tenants, predominantly key workers struggling to afford full market rents.
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Lothian Homes have been selected by the LLP to manage the completed properties. Under the initiative homes must be available to rent over a five to ten year period, after which tenants will have the opportunity to purchase their house at the market value.
Managing Director of Miller Homes Scotland, David Knight, expressed delight to participate in this "unique and innovative" means of addressing the shortfall in new affordable homes.
He particularly praised how the initiative places less reliance on the public purse for the delivery of affordable housing.
Mr Knight stated: "At such a challenging time for the public and private sectors, it is welcome that Government recognises the important role that the private sector can play in supporting local government meet its obligations in terms of affordable housing.
"In addition to providing affordable rents for key workers, enabling them to live in the city, the initiative also safeguards employment within the housebuilding industry. Both of which provide the potential to deliver further economic benefits for Edinburgh."
Housing Leader for the City of Edinburgh Council, Councillor Paul Edie, also expressed delight that Edinburgh had secured another contract for building more affordable homes.
Mr Edie commented: "The National Housing Trust initiative is an innovative way of tackling the shortage of affordable homes in Edinburgh and I am really excited with this new partnership with Miller Homes.
"This will bring forward another significant housing development in the city - just one of a number of innovative ways we have been increasing the number of badly-needed homes in the city."
(JG/GK)
